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SunSeeker

(51,516 posts)

28. No, Obama took private banks out of the middle man role on student loans.

Tue Aug 6, 2013, 09:55 AM

Aug 2013

Last edited Tue Aug 6, 2013, 01:29 PM - Edit history (1)

And Fannie and Freddie were already privatized, just the losses weren't, which this aims to fix. In fact, it is the hedge funds that own stock in Fannie and Freddie are opposing the proposal, as noted in the Bloomberg article cited in Reply #1.

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Obama to Propose Eliminating Fannie Mae, Freddie Mac [View all] Hissyspit Aug 2013 OP

Article from June on a bipartisan proposal on the issue... PoliticAverse Aug 2013 #1

Thanks for the link. Looks like the point is to prevent future bank bailouts. SunSeeker Aug 2013 #14

I wonder how incredibly ignorant people still are about this? The right-wing spin machine worked jtuck004 Aug 2013 #2

Thank you for this post newfie11 Aug 2013 #3

I'm expect some chewing, but I no longer care. Fannie and Freddie weren't blameless, especially when jtuck004 Aug 2013 #4

Freddie/Fannie fell prey to the same crooks Mnpaul Aug 2013 #7

+1000. nt adirondacker Aug 2013 #44

Not to mention the inconsistency of this compared to what he proposed for student loans. The jwirr Aug 2013 #20

+1000 blackspade Aug 2013 #37

While I agree with the premise that Morganfleeman Aug 2013 #59

Private sector will fix it. Helen Borg Aug 2013 #5

Yep, and all we have to do is further deregulate the banks. Snarkoleptic Aug 2013 #6

"Absolutely" - J. Galt (R) Berlum Aug 2013 #11

Define "fix it" - and please be specific. nt TBF Aug 2013 #48

Once again Obama proposes stealing from poor and middle class to give to the rich bowens43 Aug 2013 #8

Who better to dismantle the social safety net than a democrat. zeemike Aug 2013 #9

How is it stealing from the poor? SunSeeker Aug 2013 #21

Still I wish he could work on breaking up the banks themselves into smaller ones but I cstanleytech Aug 2013 #24

CAN WE HERE THE FREAKING SPEECH FIRST????!!!! AllTooEasy Aug 2013 #53

Chelsea didn't need no stinkin Fannie Mae to buy her $10.5 million Manhattan "apartment". Divernan Aug 2013 #10

Seriously, why does ANYONE need a residence like that? Myrina Aug 2013 #22

I don't know. AngryOldDem Aug 2013 #36

I honestly dont mind them buying such a house, I would do it if I could afford it. cstanleytech Aug 2013 #25

And yet, the "trickle down" myth survives -- and in some circles, thrives. AngryOldDem Aug 2013 #29

Why on earth would 2 adults need 6 and 1/2 bathrooms in a one story apartment? Divernan Aug 2013 #40

So? Why did you choose Chelsea and Marc as an example? Beacool Aug 2013 #51

I'm so glad you asked! Divernan Aug 2013 #55

Just how typical is it for a 30-something couple to spend $10 mil on a Manhattan apt? Divernan Aug 2013 #56

Superb posts here. woo me with science Aug 2013 #60

You are welcome. It's nice to be thanked! Divernan Aug 2013 #63

president privatization strikes again Doctor_J Aug 2013 #12

No, Obama took private banks out of the middle man role on student loans. SunSeeker Aug 2013 #28

Post removed Post removed Aug 2013 #45

Bullshit. It is Just the OPPOSITE! My Government student loans ... adirondacker Aug 2013 #47

No, for-profits previously originated AND serviced student loans. Now only nonprofits service loans. SunSeeker Aug 2013 #49

by lunch time, those who oppose this will be rand-loving libertarians Doctor_J Aug 2013 #13

lol ctsnowman Aug 2013 #15

Fannie Mae was privatized in 1968 under Lyndon Johnson, Progressive dog Aug 2013 #23

" new Glass-Steagall act breaks up the "too big to fail" banks." I really wish they would do that. cstanleytech Aug 2013 #26

Said horse trade embodied by the Gramm–Leach–Bliley Act Lasher Aug 2013 #38

What makes me maddest though is the government bailed them out but the government cstanleytech Aug 2013 #58

Don't forget Teabagger. n/t bitchkitty Aug 2013 #30

More bad news. we are ending the work the GOP started in the previous decades. Mass Aug 2013 #16

Swell. City Lights Aug 2013 #17

Just when I think he can't disappoint me any more ... Myrina Aug 2013 #18

Goodbye, fixed-rate loans PSPS Aug 2013 #19

Check out reply #8 from SunSeeker. cstanleytech Aug 2013 #27

I think you mean reply #21 by SunSeeker Lasher Aug 2013 #33

Typical. Go after the victims of Wall Street. Give the Wall Street criminals matthews Aug 2013 #31

It is obvious where he stands, remeber he wants Larry Summers back. JRLeft Aug 2013 #39

These programs worked great for decades before deregulation n privatization on point Aug 2013 #32

Are there any party favors from the big collapse party? Oh, here, look what's left! Safetykitten Aug 2013 #34

Another Obama privatization scheme? blackspade Aug 2013 #35

This actually makes me sick Xyzse Aug 2013 #41

"This will only be worse. " How so, Mr. Xyzse? Kolesar Aug 2013 #46

Quite a few things Xyzse Aug 2013 #50

I think your President has some pleasant surprises before end of term. ConcernedCanuk Aug 2013 #42

Another way to make us have to deal with the greedy private sector! GalaxyHunter Aug 2013 #43

When I read "the private sector" I cringe. Beacool Aug 2013 #52

More privatization by this stealth conservative prez. Maven Aug 2013 #54

He wants to shrink the government until he can drown it in the bath tub Doctor_J Aug 2013 #57

There's a new one every day. woo me with science Aug 2013 #61

I should have known, when I said I wanted a pony... n/t jtuck004 Aug 2013 #62

Ha! woo me with science Aug 2013 #65

Yeah, that's what I was thinking. jtuck004 Aug 2013 #66

I imagine the assets (homes) owned by those two would go to Wall Street. Fire Walk With Me Aug 2013 #64